Congress and the Obama administration are set to resumediscussions this week with the aim of reaching an agreement toraise the debt ceiling.

Although congressional Republicans have said they won't agree toany package that includes new taxes, the Obama administration andcongressional Democrats have said a package should include newrevenues.

Among the possible sources if revenues are so-called taxexpenditures, which are tax benefits aimed at specific sectors ofthe economy.

Lobbyists for CUNA and NAFCU said they will work to ensure thatif there are any tax expenditures eliminated, the credit union tax exemption isn't included.

Last week, President Obama urged lawmakers to get serious aboutthe discussions and not wait until the last minute to reach anagreement. He even used his daughters as an example as people whodon't wait till the last minute to get their homework done.

While the Treasury Department says the debt ceiling expires onAug. 2, the Obama administration wants there to be an agreement inplace by July 22 so Congress has time to pass the legislation.

After Obama's comments last week, the Senate canceled its recessand is staying in session this week. The House had already beenscheduled to meet this week.